The Best Marijuana Stocks to Buy in 2021
The marijuana industry is expected to triple in the next five years! As states and countries gradually move towards decriminalizing or legalizing cannabis — investors are looking to profit. Investors have been waiting for marijuana stocks to come to life but will 2021 be the year? Well that depends on a couple factors like passage of the SAFE Banking Act which would allow state-legal cannabis businesses to work with financial institutions; and/or if the federal government removed marijuana from its list of Schedule 1 drugs. Let’s take a look at the best marijuana stocks for 2021 if the environment tilts in its favor.
GrowGeneration Corp (NASDAQ: GRWG)
12 month forecast high: $65
Through its subsidiaries, this company owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting and hydroponics products, including lighting fixtures, nutrients, seeds and growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Scotts Miracle-Gro Co (NYSE: SMG)
12 month forecast high: $290
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company’s Hawthorne Gardening subsidiary ranks as a leading supplier of hydroponic gardening products to the cannabis industry.
Aphria Inc (NASDAQ: APHA)
12 month forecast high: $20.55
Aphria Inc. cultivates, processes, produces, markets, distributes, and sells medical cannabis in Canada and internationally.
Innovative Industrial Properties (NYSE: IIPR)
12 month forecast high: $250
This company is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
Altria Group Inc (NYSE: MO)
12 month forecast high: $60
Altria Group, Inc., through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. Altria owns 45% of Cronos Group, one of the largest Canadian marijuana stocks.
Constellation Brands Inc (NYSE: STZ)
12 month forecast high: $290
Constellation Brands, Inc., together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company invested in Canopy Growth (CGC) in 2017, buying a 9.9% stake for $191 million. It upped that stake to 38% in 2018 by investing $4 billion in the Canadian cannabis producer. It continues to hold warrants that, if exercised, would give it 55.8% ownership in the company.
